Commodity Tips: Silver Trading Range - 37783-39391

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Silver on MCX settled down -0.56% at 38338 as the dollar moved off lows shrugging off weaker economic data. The dollar moved off session lows, pressuring prices despite a pair of bearish reports pointing to weakness in the economy. The U.S. Labor Department's latest Job Openings and Labor Turnover Survey (JOLTs) report, a measure of labor demand, showed job openings in December fell to about 5.81m, short of expectations for 5.96m.

 

Trading Ideas: 

 

* Silver trading range for the day is 37783-39391. 

 

* Silver prices dropped as the dollar moved off lows shrugging off weaker economic data. 

 

* Bullard said that he favours low rates for an extended period, and warned that nominal wages were not a good predictor of inflation. 

 

* The U.S. Labor Department's latest JOLTs report, showed job openings in December fell to about 5.81m, short of expectations for 5.96m. 

 

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